According to reports from the Spanish newspaper "Ouhua Bao," officials from relevant Spanish government departments have provided an authoritative official interpretation of the detailed guidelines for the new "Entrepreneurship Law."
To attract foreign capital, promote national economic development, and expand domestic demand, the Spanish government spent a year and a half in discussions before officially promulgating the new "Law on Support for Entrepreneurs and Their Internationalization" (referred to as the new "Entrepreneurship Law") on September 28, 2013. The law consists of 74 articles, the most notable of which is the "Investment Immigration for Residency" act, aimed at foreign investors, entrepreneurs, highly skilled professionals, scholars, and foreign employees who have made outstanding contributions to companies. In December 2013, the Spanish government revised the detailed regulations of the law, making the application procedures and timelines more streamlined to better attract foreign immigrants to invest in Spain.
Currently, due to a lack of understanding of the Spanish investment immigration law among investors, much of the information regarding real estate and legal matters, as well as online news reports, is outdated or even inaccurate, leaving people unaware of the rights they can obtain regarding healthcare, education, and employment after immigrating. Consequently, relevant departments have received an increasing number of requests and questions from businesses and investors. To dispel doubts about investment immigration and attract more Chinese investors, the Spanish authorities have provided an authoritative interpretation of the new investment immigration law.
Furthermore, Spain has relatively lenient taxation policies for overseas income for holders of residence permits. Generally, if one does not spend more than 183 days in Spain per year, there is no need to pay taxes on income earned outside of Spain. Moreover, investment immigrants who purchase property in Spain for 500,000 euros can quickly obtain residence visas for the EU and Schengen Area. Typically, visas can be approved in 10 days and residency obtained in 20 days, significantly shortening the previously long approval times. This policy offers residency for the whole family without a minimum stay requirement, visa-free travel within EU countries, and free education for children.
Policy stability is also a concern for many. This policy was fully discussed and voted on by the Spanish government and parliament; it is serious and prudent. The current Spain is more open and in greater need of new vitality, so policy stability should not be a concern. Although the new law attracts and prioritizes new investment immigrants and skilled immigrants with a low threshold, it does not conflict with other immigration laws. Such changes reflect the Spanish government's confidence in its own economic rebound and its determination to increase openness to attract foreign investment.
As the first immigration agency to introduce the Spanish 500,000-euro property investment immigration program to China, Worldway Immigration partners with well-known local real estate developers to provide clients with high-quality existing property resources. At the same time, through an independent customer service center established in Europe, we provide clients with a series of seamless landing services, including site visits, property purchases, arrival assistance, and settling in. Interested parties are welcome to call our consultation hotline at 400-138-2929.
You are also welcome to visit the Worldway Immigration booth at the "2014 Beijing Overseas Property and Investment Immigration Exhibition" for on-site consultation!
Location: China National Convention Center (next to the Bird's Nest and Water Cube)
Date: March 28-30, 2014 (Friday to Sunday)